Which of the following statements is FALSE regarding financial intermediaries?

A. A stock broker acts as a financial intermediary by bringing together buyers and sellers of stocks.

B. A financial advisor is a financial intermediary since he/she gives financial advice to households regarding saving for retirement.

C. Banks and credit unions are a financial intermediaries since they act as a middle man between households wanting to borrow and those wanting to lend .

D. Investment companies act as a financial intermediary by pooling investors' funds enabling those with smalls sums of money to obtain diversified portfolios.

E. Insurance companies act as financial intermediaries by pooling risk amongst households thereby reducing the cost of insuring such risks.